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Summer sparks real estate sales

Real estate sales in the North Okanagan and Shuswap are on the rise. There were 236 overall sales in June, up 28.3 per cent from 184 units during the same month in 2013. Total residential sales for the month were up 24.1 per cent, with 216 units sold compared to 174.  There were 122 single-family home sales, up 27.1 per cent from 96 in June 2013.

“After six months of steady growth in sales, the Okanagan-Shuswap housing market is experiencing a rebound in consumer demand and has moved firmly into balanced conditions,” said Darcy Griffiths, Okanagan Mainline Real Estate Board president.

While the 401 new listings taken for June were up 19.4 per cent from the 2013 level of 336, inventory for June saw a 7.8 per cent dip to 2,233 from 2,422 last year.

“We are seeing more listings than in 2013, but not enough to keep up with the demand in some segments as sales have increased more than inventory,” said Griffiths.

 

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